DIpil Das
The US
2021 Major US Store Closures and Openings Year to date in 2021, US retailers have announced 2,190 closures and 2,160 openings for the full year. Our data represent closures and openings by calendar year, so these totals include announcements made in 2020 of closures and openings expected to fall in 2021. This week, our updates for Aldi, At Home, Five Below, Gertrude Hawk Chocolates, Murphy USA, Trader Joe’s and Weis Markets changed the 2021 US openings count to 2,160. The 2021 US closure count changed to 2,190 with the closure updates for Kmart, Sears and Skechers this week. The store closure update from Skechers has revised our 2020 US closures count to 8,751. We have revised the 2020 US openings count to 3,327 with updates for Aldi, Five Below, Murphy USA and Skechers. The chart below depicts the week-by-week totals of announced US store closures and openings year-to-date in 2021.US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=162]
Coresight Research periodically updates the count for openings and closures when there are new updates or revisions to previous announcements from companies and this could involve retrospective revisions of totals for some weeks. Source: Company reports/Coresight Research
What Is Happening This Week in the US
Aldi Plans 100 Openings in 2021 Grocery retailer Aldi has announced plans to open 100 new stores across the US in 2021. The grocery retailer will open three stores, one each at Jacksonville and Sarasota in Florida, and one in Gilbert, Arizona, in February. We had previously estimated 212 store openings for Aldi in 2021. With the company's latest update, we have revised the count in our US 2021 openings chart. In 2020, the retailer opened 95 stores. We have updated the figure in our US 2020 openings chart. Aldi operates a total of 2,072 stores, as per the website store locator on February 10, 2021. Coresight Research insight: Discount formats continue to lead in store openings (see also the Five Below and Trader Joe’s stories below). We estimate that discount and value formats (spanning food and nonfood/general merchandise) will account for around two-thirds of US store openings in 2021. At Home To Open 12 to 15 Stores in 2021 Home decor retailer At Home has announced plans to open 12 to 15 new stores in the calendar year 2021. The retailer opened three new stores in the first week of February, one each in Nanuet, New York; Johnstown, Colorado; and Ocean Township, New Jersey. The fourth new store for 2021 will open in San Jose, California by the end of February. The retailer will have a total of 222 stores across 40 states by the end of February 2021. We have taken a conservative view of At Home’s projection and charted 12 openings for the retailer in 2021. Five Below To Open 170 Stores in 2021 Discount store retailer Five Below has announced plans to open 170 new stores in calendar year 2021. Five Below opened its 10th store for the year 2021 in Mount Vernon Plaza, Ohio on January 31, 2021. The retailer opened 141 stores during calendar year 2020, of which we had previously recorded 118 openings. We have revised the figure in our US 2020 openings chart. The retailer operates a total of 1,051 stores, including the 10 newly opened stores in 2021, as of February 5, 2021. Gertrude Hawk Chocolates Opens One New Store Chocolatier Gertrude Hawk Chocolates opened a new store in Arena Hub Plaza, Pennsylvania on February 6, 2021. The retailer operates a total of 41 stores in the US. Murphy USA Plans 55 New Stores in 2021 Convenience store and gas station chain Murphy USA has announced plans to open 55 new stores in 2021. The company reported that it opened 24 new stores and closed 10 stores in fiscal year 2020, ended December 31, 2020. We previously reported 30 openings and 10 closures for the year 2020. We have revised the openings count for Murphy USA in our US 2020 openings chart. The company operates 1,503 stores, including 1,151 Murphy USA sites and 352 Murphy Express sites, as of December 31, 2020. Sears And Kmart To Close 20 Stores Department store retailer Sears plans to close 13 Sears and seven Kmart stores by mid-April 2021 across California, Florida, Hawaii, Maryland, Massachusetts, New York, Puerto Rico, Texas and Virginia. The store closure announcements came through the Facebook page for each individual store. Transformco, parent company for both Sears and Kmart, did not provide any official statement regarding the store closures. We have recorded these closures in our 2021 US closure chart. Skechers To Close 23 Stores Footwear retailer Skechers plans to close 23 company-owned stores by the end of its 2021 first quarter. The retailer reported 36 new store openings and 10 closures in the US for fiscal year 2020, ended December 31, 2020. We have updated the store openings and closures count in our US 2020 charts. The retailer has 523 company-owned stores in the US as of December 31, 2020. Trader Joe’s To Open Two Stores Grocery retailer Trader Joe’s has announced the opening of two new stores in 2021. The first new store opened in Fort Myers, Florida on February 5, 2021. The second store is set to open in Ithaca, New York, on February 19, 2021. With these two new locations, the retailer will have a total store count of 516 throughout the US. Weis Markets Opens One New Store Grocery retailer Weis Markets HAS opened a new store in Martinsburg, West Virginia. Spanning over 66,000 square feet, the new store has 13 self-checkout lanes, a fuel center, an organic foods department, curbside pick-up facilities and an expansive range of fresh produce. With the addition of this new store, the retailer has a total of 197 stores across the US. 2021 Major US Store Closures and Openings [caption id="attachment_123199" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for American Eagle, Bed Bath & Beyond, Children’s Place, Express, Gap, GNC, Godiva, Heritage Brands, JCPenney, H&M, L'Occitane, Michael Kors, Office Depot, RTW Retailwinds and Vitamin Shoppe, among others. Estimates for Banana Republic, Bed Bath & Beyond, Build-A-Bear, Chico’s, Gap and Michael Kors closures pertain to North America closures. Macy’s includes Macy’s and Bloomingdale’s banners. Ascena Retail Group includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey. Family Video, which operates primarily under a rental business model, is included in the chart since it also retails certain products and for comprehensiveness, given its outlets would commonly be perceived as retail stores. Source: Company reports/Coresight Research [/caption] [caption id="attachment_123200" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for Aerie, Aldi, Casey’s, Dollar General, Dollar Tree, Lidl, Madison Reed and Payless, among others. Aerie, Bed Bath & Beyond, Chico’s, Michaels and Old Navy openings pertain to North America openings. Source: Company reports/Coresight Research [/caption] 2021 Major US Uncharted Openings and Closures The table below details announced openings and closures not included in our totals, as the companies did not provide detail on timing or location. [wpdatatable id=754 table_view=regular]
Source: Company reports/Coresight Research [caption id="attachment_123201" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for Bed Bath & Beyond, Foot Locker, Gap, GNC, H&M, Heritage Brands, JCPenney, Kmart, Pet Valu, Sears and Signet Jewelers, among others. Estimates for Abercrombie & Fitch, American Eagle, Foot Locker, GameStop, GNC, G-III Apparel, Hollister and H&M are based on the existing proportion of stores in the US. Aerie, Banana Republic, Bed Bath & Beyond, Build-A-Bear, Chico’s, Gap, Genesco, Intermix, Michaels, Old Navy, Signet Jewelers, Tapestry and Williams-Sonoma closures pertain to North America closures. Ahold Delhaize includes Food Lion, Hannaford, Stop & Shop and The Giant Company banners. Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners. Lululemon closures pertain to its Ivivva banner. Macy’s includes Macy’s and Bloomingdale’s banners. Papyrus includes American Greetings, Carlton Cards, Paper Destiny and Papyrus banners. Signet Jewelers includes Kay, Zales, Peoples, Jared and regional banners. Stage Stores includes Bealls, Goody’s, Palais Royal, Peebles and Stage banners. Ascena Retail Group includes Justice, Catherines, Ann Taylor, Lane Bryant, LOFT and Lou & Grey. Victoria’s Secret includes PINK and Victoria’s Secret banners. *Total includes a small number of retailers that each announced fewer than 13 store closures and so are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_123202" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for Abercrombie & Fitch, Aldi, Casey’s, Dollar General, Foot Locker, Gap, Hollister and H&M among others. Estimates for Abercrombie & Fitch, American Eagle, Foot Locker, Hollister, Home Depot and Levi’s are based on the existing proportion of stores in the US. Aerie, Athleta, Bed Bath & Beyond, Genesco, GNC, Michaels, Old Navy, Sephora, Tapestry, Under Armour and Urban Outfitters openings refer to North America openings. Ahold Delhaize includes Food Lion, Hannaford, Stop & Shop and The Giant Company banners. Amazon includes Amazon 4-Star and Amazon Go Grocery banners. Foot Locker includes the Foot Locker, Lady Foot Locker, Champs Sports, Foot Action and SIX:O2 banners. Hibbett Sports includes Hibbett and City Gear banners. Signet Jewelers includes Jared, Kay, Peoples, Zales and regional banners. TJX includes HomeGoods, Homesense, Marshalls, Sierra and T.J. Maxx banners. Beauty Systems Group, a subsidiary of Sally Beauty Holdings, is charted under the parent banner. *Total includes a small number of retailers that each announced fewer than six store openings and are not included in the chart.
Source: Company reports/Coresight Research [/caption] 2021 Major US Retail Bankruptcies [wpdatatable id=755 table_view=regular]
N/A – Not Available Source: Company reports/Coresight Research 2020 Major US Retail Bankruptcies [wpdatatable id=756 table_view=regular]
Revenue figure depicted for Centric Brands is for the nine-month period ended September 30, 2019. *Fairway Market filed for bankruptcy for the second time after entering and exiting bankruptcy in 2016; True Religion Apparel filed for bankruptcy for the second time after entering and exiting bankruptcy in 2017. **J.Crew Group includes J.Crew and Madewell banners; Ascena Retail Group includes Justice, Catherines, Ann Taylor, LOFT, Lane Bryant and Lou & Grey banners; Le Tote includes Lord & Taylor banner; Tailored Brands includes Men’s Wearhouse and Jos. A. Bank, Moores Clothing for Men and K&G banners. N/A – Not Available Source: Company reports/Coresight Research
The UK
2021 Major UK Store Closures and Openings Year to date in 2021, UK retailers have announced 1,060 closures and 195 openings for the full year. Our data represent closures and openings by calendar year, so these totals include announcements made in 2020 of closures and openings expected to fall in 2021. This week, we updated the closure count for Arcadia Group and Clarks, which has changed the 2021 UK closure count to 1,060. The 2021 UK openings count remains at 195 with no opening updates. The chart below depicts the week-by-week totals of UK store closures and openings year to date in 2021.UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=163]
Source: Company reports/Coresight Research
What Is Happening This Week in the UK
Aldi To Open Two New Stores in Hampshire Supermarket chain Aldi has announced plans to open two new stores, one each in Farnborough and Petersfield, by the end of 2021. The announcement is part of the company’s long-term expansion strategy, which aims at having 1,200 stores in the UK by 2025. We have already accounted for 60 new Aldi stores for the calendar year 2021 based on the company’s long-term strategy, and these two stores are part of our estimated openings for 2021. Arcadia Group To Close All Stores With the acquisition of Arcadia brands Burton, Dorothy Perkins and Wallis by online fashion retailer Boohoo Group for £25.2 million ($35 million), all of Arcadia Group’s 444 UK stores will close. Last week, we reported the acquisition of HIIT, Miss Selfridge, Topman and Topshop by ASOS, for £330 million ($450 million). As is the case with ASOS, Boohoo plans to launch the brands in an online-only format. Arcadia Group had 444 stores (excluding concessions) when it fell into administration in November 2020. Clarks To Close Bedford Store Footwear retailer Clarks has confirmed plans to close its store in Bedford town center. A Clarks spokesperson stated that the decision to close the store was made after careful consideration. Bedford town center has seen the recent departure of Beales, Debenhams and Tesco.Non-Store-Closure News
The Hut Group Acquires Dermstore for $350 million Online health and beauty retailer The Hut Group has acquired US online skincare and beauty retailer Dermstore from Target for $350 million (£251 million). The acquisition is in line with the online beauty retailer’s plans to become the global digital partner of choice in the beauty industry. Dermstore.com is an online pureplay retailer for professional-grade skincare products and specialist beauty brands. [caption id="attachment_123203" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for some retailers, including Arcadia Group, Argos, Edinburgh Woollen Mill, Jaeger, Marks & Spencer, Office, Ponden Home, Sainsbury’s, Truworth and WHSmith. McColl’s includes convenience stores and newsagents. Arcadia Group includes 21 Outfit stores and other 10 stores that have not yet been disclosed. Source: Company reports/Coresight Research [/caption] [caption id="attachment_123204" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. We estimate this information for some retailers, including Aldi, B&M, Flannels, Heron Foods, JYSK, Lidl, Screwfix and Planet Organic. Source: Company reports/Coresight Research [/caption] 2021 Major UK Uncharted Openings and Closures [wpdatatable id=758 table_view=regular]
Source: Company reports/Coresight Research [caption id="attachment_123205" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur, and we estimate this information for some retailers, including Boots, Debenhams, H&M, Marks & Spencer, Sainsbury’s, Truworth and WHSmith. Arcadia Group refers to Topshop and Topman banner store. McColl’s includes convenience stores and newsagents. Baird Group includes Ben Sherman, Jeff Banks and Suit Direct licensed stores, among others. *Total includes a small number of retailers that each announced fewer than six store openings and so are not included in the chart.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_123206" align="aligncenter" width="725"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur, and we estimate this information for some retailers, including Aldi, B&M, H&M, Lidl, Marks & Spencer and Sainsbury’s. Card Factory is based on the proportion of net existing stores in the UK. Source: Company reports/Coresight Research [/caption] Notes Figures represent store openings and closures that occurred, or are expected to occur, in the respective calendar years. For some retailers, store opening and closure numbers are estimated, including from part-year data, global figures or announced closure/opening programs that span multiple years. Estimates are updated as companies announce details. Figures for openings and closures are gross.